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2 years ago

15

A company rents office space for $10,000. The company hasn’t yet recorded payment as an expense in the financial statements beca

use it hasn’t started using the premises.

1 answer:

zepelin [54]2 years ago

6 0

What is the question?

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Assume you can currently exchange one U.S. dollar for one hundred Japanese yen. Also assume the inflation rate will be 2.5 perce

Maru [420]

Answer:

e. Less than 100

Explanation:

Inflation: Inflation can be defined as rise in general price level of the goods and services in a country.

It can also be defined as reduction in value of money.

In this case Inflation in US( 2.5%) is higher than inflation in Japan (2%). So Japanese Yen is reducing less in value from US Dollar. So, now Dollar can buy less Yen than it could buy previously.

8 0

2 years ago

Kawasaki Company incurred the following unit costs in manufacturing digital cameras: Direct Materials $14 Indirect Materials (va

Shtirlitz [24]

Answer:

Unitary variable cost= $42

Explanation:

Giving the following information:

Direct Materials $14

Indirect Materials (variable) $4

Direct Labor $8

Indirect Labor (variable) $6

Other Variable Factory Overhead $10

During the period, the company produced and sold 1,000 units.

Under the variable cost method, the product cost is calculated using direct material, direct labor, and variable overhead:

Unitary variable cost= 14 + 8 + (4 + 6 + 10)= $42

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2 years ago

Which of the following is an example of shadowing? Select one: a. Two new recruits working on an automobile’s rear axle b. Three

Arisa [49]

Answer:<em> Option (b) is correct.</em>

From the given options , the following is an example of shadowing:<em> Three young interns practicing under the guidance of an experienced surgeon. </em>

<em>Shadowing here refers to on-the-job learning program. It also includes development program related to career and leadership. This also involves working with individuals who might have different work, or might have to teach the individual about aspects related to the work, business or competencies. </em>

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2 years ago

Assuming a routine manufacturing activity, present journal entries (account titles only) for each of the following transactions:

trasher [3.6K]

Answer:

Explanation: Journal Entries

a. Purchased material on account

Debit: Materials Purchases

Credit: Account payable

b. Recorded wages payable

Debit: Wages

Credit: Wage payable

c. Requisitioned both direct material and indirect material.

Debit: Manufacturing overhead

Credit: Raw material inventory

d. Assigned direct and indirect labor costs.

Debit: Manufacturing overhead

Credit: Labour costs

e. Recorded factory depreciation

Debit : Depreciation expense

Credit: Accumulated depreciation

-accrued factory property tax.

Debit: Property tax expense

Credit: Accrued Tax

f. Applied manufacturing overhead to production.

Debit: Production expenses

Credit: manufacturing overhead

g. Completed work on products.

Debit: finished goods inventory

Credit: work in process inventory

h. Sold finished goods on account.

Debit: Account receivable

Credit: Sales

i. Paid wages

Debit: Wages

Credit: cash/bank

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2 years ago

Some poople argue that the only beneficiary of the entrepreneurial wealth is the entreprenceur him/herselt Do you agree? Why or

Ugo [173]

I do not agree that “the only beneficiary of the entrepreneurial wealth is the entrepreneur him/herself.”

The entrepreneur may be the chief beneficiary when she is alive to reap the rewards of their entrepreneurial efforts. But, she is certainly not the only beneficiary of the entrepreneurial wealth that she creates. Nobody works in isolation. When the entrepreneur commences her business, society as a whole benefits because any individual wealth created increases the wealth of the nation and the world. She only gets the profit share of the created wealth. Customers who patronize her services and goods also derive satisfaction of needs (utility or value). The entrepreneur's wealth is also shared to the government in form of taxes. Suppliers of primary goods and services also share in the wealth of the entrepreneur. And employees of the entrepreneur also take a large share of the created wealth.

But, who is an entrepreneur? She is somebody who assumes some entrepreneurial (first-time) risks in order to set up a business for the manufacture or provision of goods and services for the purpose of profit. Her business may not be profitable in the short-run. She can even lose tons of money initially until the profit stage sets in. As she preserves, the profits will start rolling in, provided she had done her homework well.

8 0

1 year ago